The Manufacturers Life Insurance Company reduced its stake in Kinsale Capital Group, Inc. (NYSE: KNSL – Get a rating) by 2.8% in Q3, according to its latest 13F filing with the Securities and Exchange Commission. The institutional investor held 25,535 shares of the financial services provider after selling 724 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.11% of Kinsale Capital Group worth $6,522,000 when it last filed with the Securities and Exchange Commission.
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Several other hedge funds and other institutional investors have also recently increased or reduced their stakes in the stock. BlackRock Inc. increased its position in Kinsale Capital Group shares by 1.0% during the first quarter. BlackRock Inc. now owns 2,301,709 shares of the financial services provider worth $524,835,000 after purchasing an additional 23,604 shares during the period. Vanguard Group Inc. increased its position in Kinsale Capital Group shares by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 2,225,632 shares of the financial services provider worth $507,488,000 after purchasing an additional 26,965 shares during the period. State Street Corp increased its position in Kinsale Capital Group shares by 0.9% during the second quarter. State Street Corp now owns 719,852 shares of the financial services provider worth $165,307,000 after purchasing an additional 6,464 shares during the period. Geneva Capital Management LLC increased its position in Kinsale Capital Group shares by 4.0% during the 3rd quarter. Geneva Capital Management LLC now owns 670,047 shares of the financial services provider worth $171,143,000 after purchasing an additional 25,966 shares during the period. Finally, Macquarie Group Ltd. increased its position in Kinsale Capital Group shares by 33.5% during the 2nd quarter. Macquarie Group Ltd. now owns 446,626 shares of the financial services provider worth $102,563,000 after purchasing an additional 112,060 shares during the period. Institutional investors and hedge funds hold 85.97% of the company’s shares.
Kinsale Capital Group Share Performance
Shares of KNSL opened at $273.08 on Monday. The company has a debt ratio of 0.20, a quick ratio of 0.18 and a current ratio of 0.18. Kinsale Capital Group, Inc. has a 12-month low of $180.05 and a 12-month high of $334.99. The company’s 50-day moving average price is $281.43 and its two-hundred-day moving average price is $276.64. The company has a market capitalization of $6.26 billion, a P/E ratio of 44.99 and a beta of 0.89.
Kinsale Capital Group (NYSE: KNSL – Get a rating) last announced its quarterly results on Thursday, October 27. The financial services provider reported earnings per share of $1.64 for the quarter, beating analyst consensus estimates of $1.42 by $0.22. Kinsale Capital Group achieved a net margin of 18.45% and a return on equity of 24.56%. The company posted revenue of $216.96 million for the quarter, versus analyst estimates of $214.02 million. On average, analysts expect Kinsale Capital Group, Inc. to post EPS of 7.35 for the current fiscal year.
Kinsale Capital Group Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 13. Shareholders of record on Wednesday, November 30 received a dividend of $0.13. This represents a dividend of $0.52 on an annualized basis and a yield of 0.19%. The ex-dividend date was Tuesday, November 29. Kinsale Capital Group’s payout ratio is currently 8.57%.
Analysts set new price targets
Several equity research analysts have recently commented on the stock. BMO Capital Markets launched a hedge on shares of Kinsale Capital Group in a research report on Thursday, January 19. They set an “underperforming” rating and a price target of $230.00 for the company. Jefferies Financial Group launched a hedge on shares of Kinsale Capital Group in a Monday, December 12 report. They set a “hold” rating and a price target of $295.00 for the company. Truist Financial raised its price target on Kinsale Capital Group shares from $285.00 to $335.00 in a Monday, October 31 report. StockNews.com launched a hedge on shares of Kinsale Capital Group in a report on Wednesday, October 12. They set a “hold” rating for the company. Finally, Royal Bank of Canada raised its price target on Kinsale Capital Group shares from $275.00 to $350.00 and gave the company an “outperform” rating in a Monday, Oct. 31 report. One research analyst rated the stock with a sell rating, two gave the company’s stock a hold rating and three gave the company’s stock a buy rating. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $308.00.
Insider Buying and Selling at Kinsale Capital Group
In other news, CEO Michael P. Kehoe sold 3,500 shares of the company in a trade on Friday, November 4. The shares were sold at an average price of $317.16, for a total value of $1,110,060.00. Following the sale, the CEO now owns 313,441 shares of the company, valued at $99,410,947.56. The sale was disclosed in a legal filing with the SEC, accessible via the SEC website. Insiders hold 6.20% of the shares of the company.
Kinsale Capital Group Company Profile
Kinsale Capital Group, Inc. is a holding company that provides property and casualty insurance services. It operates the Surplus and Surplus Lines Insurance segment. The Surplus and Surplus Lines Insurance segment provides liability and property insurance products to excess and surplus lines through underwriting divisions.
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